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National Insurance Own Damage Bike Insurance
Own-Damage insurance, also known as Standalone Own Damage insurance, covers the cost of damage to your two-wheeler if something goes wrong. It helps pay for repairs if your bike is damaged due to accidents, theft, vandalism, fire, explosions, natural disasters, or man-made events. When you combine this plan with the compulsory third-party insurance, it gives complete protection to both the bike and the rider. Since road accidents can happen anytime, this insurance also gives peace of mind to the rider and their family.
Standalone Bike Insurance v/s Third-Party Bike Insurance v/s Comprehensive Bike Insurance.
| Features | Own Damage Insurance | Third-Party Insurance | Comprehensive Insurance |
|---|---|---|---|
| Cover your own bike | Covers damages to your bike only | Not covered | Covers damages to both your bike and third-party liabilities |
| Third-party liability coverage | Not covered | Covers third-party property damage and injuries | Covers both third-party liabilities and own bike damage |
| Coverage for theft | Yes, bike theft is covered | Not covered | Yes, bike theft is covered |
| Coverage for natural disasters | Yes, covers natural disasters like floods | Not covered | Yes, covers natural disasters |
| Coverage for man-made events | Yes, covers vandalism and riots | Not covered | Yes, covers man-made events |
| Personal accident cover | Optional (through add-ons) | Not included | Available as an add-on |
| Premium cost | Moderate | Lower, as it only covers third-party liabilities | Higher due to broader coverage |
| Add-on covers available | Available (e.g., zero depreciation) | Not available | Available (e.g., engine protection, zero depreciation) |
| Legal requirement | Not required | Mandatory by law | Optional but highly recommended |
| Best for | Those wanting protection for their own bike | Those seeking basic, mandatory protection | Those seeking full coverage for bike, third-party, and theft |
What Is Covered Under a National Standalone Own-Damage Policy?
Here is what a National Standalone Own-Damage Two-Wheeler Insurance policy covers:Damage to your two-wheeler due to an accidentDamage caused by fire or explosionTheft of the two-wheeler or damage that cannot be repairedDamage caused by natural disasters or man-made events
Here is what this policy does not cover:Electrical or mechanical problems in the two-wheelerDamage caused by wrong use or illegal ridingLoss in value due to normal wear and tear over timeAccidents that happen outside the country
Here are the main benefits of buying a National Two-Wheeler Own-Damage Insurance Policy:It pays for damage to your bike if something goes wrong, like an accident or other unexpected events.You get a No Claim Bonus for every year you do not make a claim. This bonus increases every year.You can add extra covers to get better protection for your bike.
What Is Not Covered Under a National Standalone Own-Damage Policy?
Benefits of National Standalone Own-Damage Policy
Bike Insurance Plans By National
FAQs
Bike owners who already have third-party insurance should buy this policy.
It is a reward you get if you do not make any claim in a year. It reduces your premium next year.
No, this policy only covers damage to your own bike. You must have a separate third-party insurance.
It covers damage from accidents, fire, explosions, theft, floods, earthquakes, and other natural or man-made events.
Yes, you can choose add-on covers to get more protection for your bike.